Yes.
Can you buy life insurance on your parents?
Yes. Adult children do have an insurable interest on their parents, because they may have to pay for their parent's burial and funeral costs.
There are even guaranteed issue life insurance policies available for people ages 45 to 85.
So, even if your parent has a health issue, you can still get life insurance on your parent.
Learn more about life insurance for parents over 75 years old.